Global 3D Printer Market to Reach Valuation of 35.36 USD Billion by 2028 - Increase in the development of customized 3D products is driving the Market

Vantage Market Research

Mar 28, 2022

In terms of revenue, the Global Global 3D Printer Market is expected to reach 35.36 USD Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 18.00% from 2022 to 2028. An increase in the development of customized products, a decrease in manufacturing expense are the driving factors for Global 3D Printer Market.

Key Findings:

  • Under the Printer Type segment industrial printer sub-segment is anticipated to dominate the segment for Global 3D Printer Market and growing at a substantial Compound Annual Growth Rate (CAGR). This is attributed to the vast adoption of industrial printers in big industries, like automotive, mechanical, aerospace and defense, and medical.
  • Stereo-lithography sub-segment held a market significant share in 2021. This is the fastest segment growing in Global 3D Printer Market. The advantages and comfort of operations related to stereolithography technology are promoting the adoption of this technology, advancements in technology, and fierce research and development actions.
  • Asia Pacific is the largest regional segment. This is due to several additive manufacturing enterprise players, which hold substantial technical expertise in additive manufacturing techniques.

Some of key players in Global 3D Printer Market includes, Stratasys Ltd. (U.S.), 3D Systems Corporation (U.S.), HP Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), and Canon Inc. (Japan).

Availability of materials and advancement in 3D printing technologies has increased the adoption of print-on-demand parts for the generation of customized operating parts. 3D printing allows the manufacturing of personalized products related to individual needs and provisions. Ongoing technological improvements in the existing 3D printing technologies, lowering costs of printers, and availability of a spectrum of materials allow the easy manufacturing of custom-made products.

The medical industry across the world has been harshly impacted by the emergence of the COVID-19 outbreak. The increased need for masks, personal protecting equipment, testing tools, and other medical reserves has encouraged the manufactories of these components to focus on their production. This has prompted the manufacturers to seek alternatives that can help produce the components in bulk and are as efficient as the original gear, thus boosting the 3D printer market.

Asia Pacific is expected to emerge as potential market for Global 3D Printer Market. Furthermore, there have been a series of new product introductions, unions, and investments to use the potential on offer through 3D printing. The primary factor influencing the rise is the constant evolution and application of new technologies analyzed in the regional market.